Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.7.0.1
Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2017
Goodwill and Other Intangible Assets  
Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

    

SIRIUS XM

    

Formula 1

 

Other

    

Total

 

 

 

amounts in millions

 

Balance at January 1, 2017

 

$

14,165

 

 —

 

180

 

14,345

 

Acquisitions (a) (b)

 

 

85

 

3,968

 

 —

 

4,053

 

Balance at June 30, 2017

 

$

14,250

 

3,968

 

180

 

18,398

 


(a)   On April 18, 2017, Sirius XM acquired Automatic Labs Inc., a connected vehicle device and mobile application company, for an aggregate purchase price of approximately $107 million, net of cash and restricted cash acquired. The excess purchase price over identifiable net assets of $85 million was record to goodwill.

(b)   See note 3 for details regarding the Formula 1 acquisition.

Schedule of intangible assets subject to amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2017

 

December 31, 2016

 

 

    

Gross

    

 

    

Net

    

Gross

    

 

    

Net

 

 

 

carrying

 

Accumulated

 

carrying

 

carrying

 

Accumulated

 

carrying

 

 

 

amount

 

amortization

 

amount

 

amount

 

amortization

 

amount

 

 

 

amounts in millions

 

FIA Agreement

 

$

3,630

 

(72)

 

3,558

 

 —

 

 —

 

 —

 

Customer relationships

 

 

2,684

 

(360)

 

2,324

 

830

 

(228)

 

602

 

Licensing agreements

 

 

330

 

(123)

 

207

 

316

 

(109)

 

207

 

Other

 

 

761

 

(477)

 

284

 

686

 

(423)

 

263

 

Total

 

$

7,405

 

(1,032)

 

6,373

 

1,832

 

(760)

 

1,072

 

 

Schedule of future amortization expense

Based on its amortizable intangible assets as of June 30, 2017, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):

 

 

 

 

 

 

Remainder of 2017

    

$

314

 

2018

 

$

652

 

2019

 

$

561

 

2020

 

$

540

 

2021

 

$

489